Spain Property News

Two iconic projects broke ground in 2003 – Spain’s largest golf resort Costa Esuri and the ‘New Wembley’. The latter was supposed to stage the 2006 FA Cup Final but setback after setback by constructors Multiplex meant that the FA only got the keys in March 2007.

Rumour has it that the Costa del Sol is one big summer sale right now, 50% off, buy one get one free, but we’re not talking rails of marked-down clothing, but bricks and mortar.

Hundreds of Britons who have sold a property in Spain between June 2004 and December 2006 have begun the fight to reclaim their money from the Spanish government, who overcharged them Capital Gains Tax by 20%.

Cloaked in vineyards and home to over 30 operational bodegas, Jerez is the aristocratic seat of sherry. This southwestern corner of Spain has exported its fortified wine for centuries and today the top names in the sherry world from Domecq to the makers of Tio Pepe, González Byass, occupy prime spots in the heart of the cobbled old city centre.

A few stones have been thrown at the condo-hotel industry recently, particularly in Las Vegas and Florida, where commentators say that they’ve become a dangerous investment with the developers cleverly shifting the financial risk to the individual unit owners.

As the lower ranks of the Spanish property market take a tumble the prime resorts attracting financially stable buyers remain steadfast.

Despite growing concerns in the UK housing market, the ongoing credit crunch and the perceived pending recession, investors should be careful not to associate the UK and America’s shortcomings with that of the rest of the world.

The genteel southern Spanish city of Jerez is certainly known for its fortified wine, in fact we Anglicized the city’s name to come up with our own word for the tipple, ‘sherry’, however, few also realize it’s the cradle and spiritual home of the gypsy-Andalucian art of flamenco.

June 2008 confirms a 17% drop in value for the pound against the euro versus this time last year. British investors are tapping at their calculators and talking themselves out of an overseas purchase.

The Spanish have a word for the colour painted by a sunset, ‘bermeja’, and there is nowhere better to admire the sun’s daily adios than against a backdrop of rugged Andalusian countryside.

Whilst Spanish construction giants, the so-called G14, encompassing household names such as Martinsa-Fadesa, Realia and Reyal Urbis, are sobbing into their cervezas at the slowdown of their industry and plunging share values, holiday home hunters are cracking open the cava as a market slowdown forces developers to think creatively about how to attract buyers.

A fabulous charity auction is now live on eBay, which will give a lucky bidder the opportunity to win two places on a star-studded golf team and play along side famous faces, on one of the Costa del Sol’s most prestigious golf resorts.

It has long been the dream of many an aspiring overseas buyer, not only to own and possibly live in a house overseas, but to also be able to design your perfect home as well. This is what Spanish property specialist Casas de Lorca is offering to clients.

If your Spanish property aspirations stretch to the upmarket rather than the mass market, sharpen your sleuthing skills and decipher where Spain’s city sophisticats decamp for their beach breaks. The trail may lead you to Huelva’s El Rompido, a relative newcomer for Northern Europeans but a familiar favourite for discerning natives.

Gibraltar is a special case, less than 7km² in area with a population of just 29,000, but one of the most affluent communities on the planet.

When you look at the team behind western Costa de la Luz real estate advisory experts, Titan Properties, it’s unsurprising to discover that they’re charting the progress of this unspoilt region with independent research containing hard facts.

Thousands of Britons who have sold a property in Spain between March 2004 and December 2006 could be owed a 20% tax rebate to the tune of £37 million - £11,000 each, including interest - as a result of a Spanish Government Capital Gains Tax (CGT) scam exposed by Spanish lawyers, Costa, Alvarez, Manglano & Associates and currency exchange brokers HiFX.

We’re always taught that we have to work hard for our money but there always an exception which proves the rule and in this case it’s condo-hotels. A freehold purchase within a luxury suite hotel is one of the easiest but most lucrative property investments you can make.

Property prices in the most popular parts of Spain have been rising steadily since the 1960s when the first package holidays were offered to travellers, and demand from overseas buyers for homes in Spain since then has really fuelled these gains and led to a situation today where real estate prices in certain parts of the nation now rival those in the UK.

It may be intriguing to learn that the Ritz-Carlton Hotel Group has only two establishments in mainland Spain, namely the contemporary skyscraper Hotel Arts in Barcelona and the antithetical Roman-esque Villa Padierna in Los Flamingos Golf, Marbella.

The latest Spanish Ministry of Housing (MVIV) figures reveal that the number of property resale transactions to foreign buyers actually fell by almost 18% from Q2 2006 to Q2 2007, from 21,628 to 17,815.

The Costa Blanca region, in the province of Alicante, is most the popular Spanish Costa with potential foreign property buyers receiving 26.6% of all coastal property enquiries, according to Kyero.com, the award winning Spanish property portal.

Duchy Estates ‘enjoyed’ an unannounced visit from a Decreto 218/2005 Inspector last month and received a fine of several thousand euros for ‘non-compliance’.

It certainly comes as no surprise to learn that the Costa del Sol has the largest concentration of golf courses in mainland Europe, about 60 at last count.

The Canary Island of Tenerife attracted 1-1.5 million tourists in 2007, from Britain and Ireland alone. And rightly so, from a British perspective it is the only place you can fly to within five hours and have a t-shirt and shorts holiday in January, or any time of the year for that matter.

Professional sportsmen are under no illusion about the fact that whilst their careers may be immensely rewarding, both personally and financially, they are also short-lived.

Comprising two distinctly styled ‘villages’, a Pueblo Mediterraneo in terracotta tones and a Pueblo Andaluz in traditional whitewash, Pueblo los Monteros is a multi-faceted resort set in a privileged location overlooking the southern Spanish hotspot of Marbella. Commanding panoramic views of the Mediterranean and across to Gibraltar and Africa, this community is a refuge from the bustle of the coast yet just minutes from the action.

The province of Málaga has 150km of coastline housing 11 marinas sharing 4,240 berths between them. The EPPA (Empresa Pública de Puertos de Andalucía or Public Company of Andalucian Ports) estimates that there is a deficit of 4,300 berths in Málaga alone, a shortfall of more than 100%, and if anything waiting lists are getting longer.

A slowing property market has its winners and its losers. The losers are the vendors who want to achieve a quick sale at a high price; the winners are the buyers who want to shop around for a deal.

Madrileños own a large proportion of holiday homes on the Costa del Sol, a proportion that could be as high as 40% in pretty coastal towns such as Mijas just to the west of Malaga.

Apartments are the most enquired about property type on three of the four main Canary Islands, Fuerteventura, Gran Canaria and Tenerife, according to award winning Spanish property portal Kyero.com, with commercial premises being the most popular on the island of Lanzarote.

An idea first conceived over 30 years ago in 1976 has finally been given the green light – Huelva, capital city of the south westerly Spanish province of the same name, is to receive its own International Airport.

2007 was a difficult year for the Spanish property market and for the seven Canary Islands located off the north western coast of mainland Africa it was no exception.

Before you rule out Southern Spain as being too expensive for a second home, turn your attention to the sunny southerly province of Huelva on the western Costa de la Luz where a one bedroom apartment in Jardines del Guzman comes in at just 54,505 euros.

If you’re a family of golf fanatics there are several options for the holiday home location – South Africa’s Garden Route. Portugal’s Algarve. Florida’s fairways.

In a competitive Spanish property market the development of Arana de Mijas stands out as a beacon amongst a blur of mediocrity.

According to a Spanish national chain of estate agents, Don Piso, the average time it takes to sell an apartment has increased by over 40% over the last two years from 86 days in 2005 to 120 days in 2007.

Legally, as defined by 1988 Coastal Law, the Spanish Government controls a coastal strip of 106 metres of which none can be dedicated to private housing. Technically any property built close to the shore after 1988, of which there are many thousands, could be earmarked for demolition.

In the 1970s golf courses began to appear on the Costa del Sol, gradually at first and then by the fistful throughout the 1980s, 1990s and beyond. Tourists flocked, attracted by the fact that they could play cheap public golf in the year-round sunshine.

Unexpected as it may seem, you can still get beachfront apartments and homes with uninterrupted golf views within striking distance of Marbella for less than 400,000 euros. As a result of the Costa del Sol property market’s period of stabilization, it’s a buyers market, and the bargains are out there.

One of the most attractive elements of Zen Buddhism is the art of Zen Gardens, or Karesansui meaning ‘dry landscape’ in Japanese. These gardens make strong use of stones, gravel, sand and the occasional patch of moss in order to represent mountains, islands, boats, seas and rivers and are used for reflection and meditation.

The province of Huelva on Spain’s most south-westerly coastline embodies the sentiment of the Costa de la Luz (Coast of Light) perfectly. Huelva has a mammoth five times more sunlight than northern Europe, an intriguing chestnut to savour as you button up your cardigan and notch the thermostat a few degrees higher.

Premier Resorts Ltd, European independent resort property company, has been contracted to market and sell Novo Carthago on the Costa Calida, Spain in the UK and Ireland. The 5,700 hectare resort is the most ambitious and exciting real estate development on the Costa Calida and combines two of the most sought after features of a Spanish property – golf courses and beaches.

For those looking for higher priced homes – older more established properties seek favour in Spain.

Mortgage Indemnity Guarantees (MIGs) were widely used in the UK a decade ago to safeguard lending at high loan to value (LTV). They still exist in the UK to a certain extent although lenders now have to make it very clear that the premium protects the bank and not the customer due to widespread criticism in the press.

Average property prices in Spain increased by 1.4% in the last month, rising to €248,000 in October 2007, according to latest data from Kyero.com, the English language Spanish property portal.

A famous US basketball coach once said, “The trouble with retirement is that you never get a day off” and he couldn’t be more right.

The majority of overseas property buyers start their research online, considering different locations, property types and budgets before committing to a viewing trip or paying a deposit.

‘Due diligence’ is a term drilled into the discerning property purchaser; in practice this means using an independent solicitor, seeking out the best rates for foreign currency exchange and of course researching property prices to ensure you pay a fair market value.

“People buy in Spain mostly because of the weather”, says Craig Stocks of Eden Villas, “which is why the outdoor facilities within a complex or their own private grounds is so important.

La Zagaleta has recently unveiled a brand new 18-hole golf course, ‘Los Barrancos de la Zagaleta’, bringing the tally of courses within the 900 hectare private resort up to two.

In response to a marked increase in the proportion of lifestyle rather than investment buyers in southern Spain over recent months, Titan Properties is expanding its ‘ready to move in’ resale portfolio by adding the Punta Coral townhouse development in El Rompido. The western Costa de la Luz specialists are confident of Punta Coral’s appeal to northern Europeans and do not expect the properties to linger on the market too long.

Spain has been in and out of the headlines in recent months with many perceiving that it is falling short as an investment hotspot. However there are still some great investments to be found if you know where to look and Alto de Montecastillo in Jerez is one such gem, particularly for those wanting a taste of the real Spain away from the Costa’s.

Desert Springs Golf Resort in Almanzora, Almeria has been featured heavily on the overseas property portal property-abroad.com as a result of a successful awareness trip to the resort in July 2007.

You’ve probably heard of the hanging gardens of Babylon, but have you heard of the hanging houses of Cuenca?

The Canary Islands (Tenerife, Fuerteventura and Gran Canaria – average property price of €230,333) remain significantly cheaper than the Balearic Islands (Mallorca and Menorca – average property price €402,000), according to the latest Kyero.com Spanish House Price Index.

The latest ‘Hotspots Report’ from currency exchange specialist HiFX reveals that Spain is still as popular as ever when it comes to Britons buying holiday homes abroad.

For over 30 years now Spain has been attracting British buyers seeking a place in the sun. The dream of swapping grey, rainy days in Blightly for 300+ days of sunshine annually and temperatures regularly in the 70’s (°F) is what drives many to purchase a second property in Spain.

When scandals of drug abuse broke in 2005, not to mention a turbulent relationship with shambolic rocker Pete Doherty, many feared that Kate Moss’s lucrative supermodel career would go into freefall.

Last week the offices of a mortgage broker based on Spain’s Costa Blanca were raided by the authorities and the proprietor arrested on grounds of providing false documentation to banks.

The Spanish national average property price remains the same 1 month on from the Spanish stock market slump at €250,000 (£169,463), according to the Kyero.com Spanish House Price Index.

Find out where your dream Spanish home really is with Kyero.com’s new mapping feature.

Many criticisms have been levied at overseas real estate agents over the years, some deserved and some less so, but one unfair accusation is that they ‘charge too much’. They don’t – their advice comes for free.

Consolidating the collective knowledge and experience of three top Spanish property experts, Overseas Property Hub Nubricks.com launches The Great Spanish Property Debate, its most informative overseas property podcast to date designed to put the record straight on what the future holds for potential buyers and sellers of property in Spain.

On 24 April 2007 a long expected correction took place in the Spanish stock market, where significant falls were recorded as the value of shares in many leading construction and property groups depreciated. Here, Chris McCarthy, Managing Director of VIVA Estates on the Costa del Sol, addresses some of the issues surrounding the current state of the Spanish property market.

Despite the recent property crisis in Spain, Tenerife’s property sales are still rising. Reports that the housing bubble in Spain has burst have led to an increase in property sales elsewhere around the mainland.

The eagerly anticipated official launch of The Village, an exciting new property development within the spectacular Valle Romano resort brought with it a host of sporting celebrities to Estepona this week.

Currently being marketed by Eden Villas are some superb three bedroom, brand new apartments just 150 metres from the beach at pretty La Rábita in Albuñol on the Costa Tropical.

Investing in property in Spain has proved sound over many years, the value of homes rising on average well above the UK market. The reasons for it continuing to be the number one hot spot for British investment is many fold not least the Spanish way of life, weather, cheap and easy access from home, no real language barrier and of course its capital gains record and easy to arrange rental income.

A recent report of an agency selling properties off plan without planning permission has caused a stir in the overseas property market but according to Craig Stocks of FOPDAC-member Eden Villas, “the Spanish market is healthy and one really needs to take the matter in context bearing in mind that tens of thousands of UK residents move to Spain each year and a small minority incur problems”.

Spain is still proving to be an exceedingly popular destination for the British buying abroad and the price is probably one of the reasons.

The type of person buying a home in Spain has changed dramatically in the course of the last five years says Craig Stocks of Eden Villas.

Eden Villas is proud to announce the launch of two exceptional developments both close to the glorious city of Granada.

There has been a change in the tax laws in Spain which means that all property owners are now to be treated equally with capital gains tax at 18% of the declared gain.

Steady demand continues for property in Mallorca, Spain’s top upmarket destination, despite recent media speculation about the market.

Property prices in the Spanish province Alicante have seen a 9% increase since Jan 07, according to Kyero.com.

Las Amapolas is a complex of high quality apartments in one of the most attractive and best situated locations of the new Costa Del Sol.

There’s a little known autonomous region in north western Spain called Galicia, where they have around 300 food fiestas every year! These gastronomic galas start on 7th January with a Rice Pudding (yes really) Festival and finish at the end of December with a Rib Pie Festival.

Cricket ace Ian Botham has found what he describes as “the perfect retreat” in Europe’s only desert.

In spite of the many newly emerging markets, Spain still remains the top choice for overseas property buyers. The past few years has seen an abundance of low-cost properties being sold directly to buyers from developers along the Costa Blanca, Almeria and Costa del Sol regions in particular.

A ‘courtyard collection’ of 24 new colourful two- and three-storey cottages is taking shape in an unspoilt coastal area of the Almanzora region of Almeria in south east Spain.

Ten stunning mountain homes on the Spanish island of Mallorca are up for grabs in a unique lottery linked to one of the island’s top hotels.

The national average property price has increased by 4000 Euros from €244,000 March 07 to €248,000 April 07, according to the Kyero Spanish Property Index.

A golf course without property is like Posh without Becks, but that’s exactly what the creators of 36-hole Golf El Rompido on the Costa de la Luz want - nature as the centre of attention. If you want a house nearby, Marina El Rompido flanks the perimeter of the South Course providing the perfect solution for house hunters, golfers, and of course, the natural environment.

Many Britons dream of owning a property in the sun and, for many, Spain offers it all. However, when purchasing property in Spain, it is important to make sure that you work with specialists who are aware of all the necessary rules and regulations, says Banco Halifax Hispania.

The province of Valencia, located in eastern Spain, showcases a mixture of white sandy beaches, a rich interior and vibrant city - all within 23,255 sq.km. In many ways it represents the essence of Spain yet retains its own Catalan heritage attracting over 4 million visitors each year.

Marbella has long been celebrated as the jet-set resort in Southern Spain. But now it’s the neighbouring Costa del Sol town of Estepona that’s enjoying the attention of a firmament of world class sporting superstars.

The European Estate Agents Union is warning homebuyers in Spain to double check their property has planning permission before they buy a new home.

Whilst some Costa del Sol residents like to display how well-off they are by driving their Bentley GTC in laps around Puerto Banús or draping themselves on the Sunseeker in Sotogrande, champagne in hand, others prefer to hide themselves and their wealth away in the anonymity and privacy of a gated country estate – and where better than the finest address in Spain, La Zagaleta.

The flamboyant sounds and rhythms of Flamenco are coming to Viva España this year for the first ever Strictly Spanish Dancing Competition judged by TV favourite and Latin American expert Brendan Cole.

From tapas to toros and sangria to San Miguel, Spanish living is everything that life in Britain is not, and our appetite for everything Spanish is insatiable. The Viva España Show returns to London Olympia from 16-18 March 2007, playing host to a little bit of Spanish sun in heart of the British capital.

For the last five years Spain has been building more than three times as many properties per year compared with the UK, despite its smaller population (43.5 million compared with 60 million in the UK) yet demand from residents and foreigners alike is continuing to drive up prices in the region.

The chance to take early retirement from Hampshire Fire and Rescue Service was also the opportunity local man Chris Cooke had been waiting for – to buy his own place in sun.

The Spanish coast has been popular with second home owners for decades; however, there is currently a huge surge of foreign interest in inland properties in Spain.

New figures released by leading Spanish property portal Kyero.com, reveal that 45% of potential buyers using the website to search for property in Spain have a budget of €50,000 - €150,000 however with the national average property price now at €245,000 is this really enough to buy your dream home?

Average property prices in Malaga are now 25% higher than Spain’s national average, at 300,000 euros, according to the latest Spanish Property Price Guide from Kyero.com.

Waterfront homes right on the 7 km long Great Sandy Beach - El Playazo - of the Almanzora coast at Playa Marques, five minutes from the fishing village of Villaricos in the Almeria region of south east Spain, are proving popular with UK buyers, reports The Almanzora Group of Cheltenham.

Spain has been long been the number one destination for Overseas property purchases and will be for the formidable future. Many new “emerging” markets come and go and consistently fail to meet all the standards set so long ago by Spain.

When Jonathan and Emma Moorhouse from Rotherham, South Yorkshire, started looking for their holiday home in the sun, they were open to ideas and thought finding their ideal retreat would be easy.

Set in Murcia, the garden State of Spain, along the golden coast of the Costa Calida is the famous development development by Polaris World, The Mar Menor Golf Resort. To any standard of golfer this could quite easily be heaven!

The boom in low-cost, budget airlines has meant that owning a property in Spain is a real possibility, not just a lifestyle afforded by the rich and famous, according to Banco Halifax Hispania.

The eyes of the smart property investor are now turning away from the budget-priced, off-plan deals of Bulgaria, Montenegro, Dubai and Croatia. Investment focus is now firmly fixed on one of the most established, treasured and desirable Mediterranean sunspots - Mallorca.

Monte Mayor Golf & Country Club in southern Spain announces partnership with leading hotel group - Kempinski - to provide five star services for home owners.

Banco Halifax Hispania has reduced the rate on its variable Euro mortgages with immediate effect.

The average property price in Spain for 2006 fell to €246,279, according to the Kyero.com 2006 Spanish Property Review. This is a 1.7% decline compared to the national average price in 2005 of €250,589. In general, average prices seem to have remained steady indicating that the market has remained stable.

When Sally-Ann Crane and Sean Lummis went on their first date, they decided there and then that would leave the UK and try and live in Spain. It was after visiting Galera to view properties that they found Spanish Inland Properties, who they ultimately bought their un-renovated cave home from - and who they now both work for. Sean had always fancied living in Andalucía and on a four-day visit to look at cave homes in Galera, the couple fell in love with the area and the idea of owning their own cave house - so much so that they bought the second cave they saw, from Spanish Inland Properties.

Barcelona has reclaimed its position as the most expensive place to buy property in Spain with an average price of €608,000, a massive 148% above the national average, according to data from Spanish property portal Kyero.com.

Phil Bass, 44, from near Sevenoaks in Kent, initially embarked on his self-build journey in the UK, but after a few years of pacing up and down potential plots he drew a blank. He simply couldn’t find the right land at the right price for his ‘grand design’ and so decided to continue his search in southern Spain where prime building plots are still relatively easy to come by – if you know where to look.

The eyes of the smart property investor are now turning away from the budget-priced, off-plan deals of Bulgaria, Montenegro, Dubai and Croatia. Investment focus is now firmly fixed on one of the most established, treasured and desirable Mediterranean sunspots - Mallorca.

With Christmas almost upon us and January looming what could be a better time to consider a move to sunnier climes? The New Year is often considered to be an anti climax following the festive celebrations, so planning a trip to sunny Spain in search of your new home could be just the tonic you’re looking for.

Nick Freeston, Director - International Department at Chesterton International, comments: “It is interesting to note that according to the government’s figures in 2005, some of the highest growth regions in Spain were Aragon, Andalucia and Galicia. Average capital growth was 12.8% and in 2006 Mallorca is proving to be our hottest market with growth levels anticipated to be in double figures.

Britons living or working temporarily in Spain are set to save thousands of pounds following cuts to Spanish Capital Gains Tax, says Banco Halifax Hispania.

Well if you’re talking about the fluffy yellow bird or the Spanish Canary Islands, then the answer is the islands – all seven of them! The bird was actually named after the islands, not the other way around. And in case you were wondering, "Canary" is derived from the Latin canaria, "of the dogs", referring to the numerous wild dogs that once inhabited the islands.

Holiday Lettings keeps its homeowners informed on proposals to reduce Capital Gains taxes payable by non-residents in Spain.

Construction work is underway on 87 new colonial-style homes at Desert Springs, Europe’s only international award-winning luxury family resort and championship desert golf course in the Almeria region of south-east Spain.

Many people dream of owning their own property and piece of unspoilt Spain. Now for the price of a large house in the UK, Spanish Inland Properties are exclusively offering a complete hamlet with school, church, houses and bar. Set in 250,000 square metres of land and surrounded by stunning views of Baza National Park Land, the tranquil village of Pueblo los Belgas is undoubtedly one of the most exciting properties on the market in Spain - and probably the most exciting investment a buyer will ever make.

After visiting friends in 2004, the Lee family from Luton were so taken with Galera they bought their own holiday cave home. Now just two years later, they are looking for a bigger property with plans to make cave living more permanent.

Buying a property in Spain is a dream come true for many Britons, but it is important that you work with specialists that can provide you with the right guidance to follow the house buying process correctly, advises Banco Halifax Hispania.

Costa de la Luz real estate agent, Titan Properties, has recently expanded its operation in preparation for yet another prosperous year in residential property. After just three years of trading, Titan Properties is putting the finishing touches to a second prime location office facility and has inspired the General Manager of the Spanish and Portuguese operation of a competing real estate agency, Miles Beacroft, to join the Titan team.

This villa occupies a prestigious corner of Nuevo Portil Golf Course on the Costa de la Luz, looking directly over the 16th tee off of the picturesque course, a peerless spot for enjoying Spanish living.

Grupo Lar Sol (Lar Sol) part of Spain’s largest privately-owned property developer is expanding globally to strengthen even further its position in the second home market.

Buying a property in Spain is no longer only a luxury afforded by Britons heading into retirement, according to new research from Banco Halifax Hispania.

New emerging markets are supposedly where the best investments and returns lie. Many people overlook a tried and tested market, believing that there are better places to invest. One such region is Spain’s Costa Almeria, nestled between the Costa del Sol and Southern Costa Calida. It remains one of the most charming and unspoilt regions in Southern Spain. Boasting over 200 miles of sparkling coastline that is virtually undeveloped, this coast offers magnificent sandy beaches with stunning coves, picturesque whitewashed villages, fishing port towns and natural parks.